CHAPTER 295
H.P. 780 - L.D. 1062
Emergency preamble. Whereas, Acts of the Legislature do not become effective until 90 days after adjournment unless enacted as emergencies; and
Whereas, the Secretary of State is releasing liens on titled vehicles that are older than 66 months assuming that they have been satisfied; and
Whereas, car loans are for periods that may run longer than 66 months; and
Whereas, this legislation needs to take effect immediately so that liens that are on titled vehicles will not be released prior to the loan being satisfied; and
Whereas, in the judgment of the Legislature, these facts create an emergency within the meaning of the Constitution of Maine and require the following legislation as immediately necessary for the preservation of the public peace, health and safety; now, therefore,
Be it enacted by the People of the State of Maine as follows:
Sec. 1. 29-A MRSA §705, sub-§3, as enacted by PL 1995, c. 482, Pt. A, §16, is amended to read:
3. Assumed release of lien. Unless notified otherwise, the The Secretary of State, at the Secretary of State's discretion, may assume that any lien with a lien date more than 66 months old has been satisfied as provided in this subsection. The Secretary of State shall provide notice to the lienholder by both regular mail and certified mail, return receipt requested, that the lien will be assumed to be satisfied unless the lienholder objects in writing within 30 days of either receipt of the notice, as evidenced by the return receipt, or 45 days of mailing by the Secretary of State in the event the lienholder refuses delivery of the notice by certified mail. The notice must identify the vehicle by year, make, model and vehicle identification number and must include the date of the lien and the name of the owner as of the date of the lien.
Emergency clause. In view of the emergency cited in the preamble, this Act takes effect when approved.
Effective May 27, 2003.
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